The Diener School
Project Type: Main Education Campus Acquisition, Build-Out
Space Use: Classrooms, Office, Gym, Event
Location: North Bethesda, Maryland
Project Size: 25,000 SF
Services Provided: Site Selection & Acquisition, Zoning & Entitlements, Design & Construction Project Management
The Diener School, located in Montgomery County Maryland, is a specialty K – 8 educational institution focused on supporting the academic and social needs of its student population by providing a nurturing yet challenging environment.
Facing an upcoming lease expiration at its former shared campus, The Diener School engaged JM Zell to develop and implement a strategy to secure a facility for long-term occupancy to achieve The Diener School’s goals of i) establishing long-term occupancy in a dedicated facility, ii) accommodating projected student body growth, iii) minimizing risk of disruption to the School’s ongoing operations, and iv) aligning construction with capital campaign fundraising timing and goals.
JM Zell commenced the engagement with an in-depth study of the School’s operating procedures, use of space, growth projections, and key timing and economic constraints. The analysis resulted in the delivery of a two-pronged real estate strategy of extending its existing shared space lease for a short-term while searching the market for an acquisition opportunity meeting the appropriate criteria.
With the real estate strategy approved by The Diener School leadership, JM Zell commenced implementation through the identification and analysis of several acquisition opportunities. The Diener School’s leadership team ultimately decided to focus on acquiring an obsolete office building located in Montgomery County on Old Georgetown Road, which was brought to it by JM Zell as an off-market opportunity. The site required a zoning and entitlement process, major interior renovations, and site improvements.
With JM Zell leading the transaction, zoning and entitlement processes, and pre-construction planning efforts, The Diener School successfully obtained the necessary zoning and entitlements and closed on the Old Georgetown Road property. Renovations commenced upon closing with delivery complete and on schedule for the beginning of the 2024-2025 academic school year.
JM Zell’s expertise in all facets of commercial real estate (transactions, zoning and entitlements, and construction project management) enabled The Diener School’s leadership team to create consensus around a complex real estate solution and implement a plan to successfully achieve the School’s overarching business, operations, and economic goals.
If you are interested in learning more about how JM Zell can assist you in achieving your business and operations goals through real estate, please contact us here.